Matthews International Capital Management LLC boosted its holdings in Gridsum Holding (NASDAQ:GSUM) by 30.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 467,447 shares of the technology company’s stock after purchasing an additional 108,984 shares during the quarter. Gridsum Holding comprises 0.2% of Matthews International Capital Management LLC’s holdings, making the stock its 28th largest holding. Matthews International Capital Management LLC owned 1.57% of Gridsum Holding worth $4,001,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. TIAA CREF Investment Management LLC bought a new stake in Gridsum Holding in the second quarter worth approximately $104,000. Quantitative Systematic Strategies LLC bought a new stake in Gridsum Holding in the second quarter worth approximately $124,000. New Silk Road Investment PTE Ltd. bought a new stake in Gridsum Holding in the second quarter worth approximately $459,000. Finally, Wells Fargo & Company MN increased its holdings in Gridsum Holding by 10.3% in the second quarter. Wells Fargo & Company MN now owns 1,266,200 shares of the technology company’s stock worth $10,839,000 after purchasing an additional 118,000 shares in the last quarter. Institutional investors and hedge funds own 30.46% of the company’s stock.

Separately, Zacks Investment Research upgraded Gridsum Holding from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, May 30th.

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Shares of Gridsum Holding (GSUM) traded down 6.41% during midday trading on Friday, reaching $10.80. The company’s stock had a trading volume of 224,985 shares. The company’s 50-day moving average price is $10.58 and its 200 day moving average price is $11.12. Gridsum Holding has a 12-month low of $9.30 and a 12-month high of $18.29. The company’s market capitalization is $331.59 million.

Gridsum Holding (NASDAQ:GSUM) last released its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $120.90 million for the quarter, compared to the consensus estimate of $118.02 million. Gridsum Holding had a negative net margin of 26.87% and a negative return on equity of 16.80%. The firm’s revenue for the quarter was up 43.8% on a year-over-year basis. On average, equities research analysts forecast that Gridsum Holding will post ($0.26) earnings per share for the current year.

Gridsum Holding Profile

Gridsum Holding Inc is a holding company. The Company provides data analysis software for multinational and domestic enterprises, and government agencies in China. The Company’s technology, the Gridsum Big Data Platform performs multi-dimensional correlation analysis and analyzes real-time events. The Company offers various types of solutions and technologies.

Institutional Ownership by Quarter for Gridsum Holding (NASDAQ:GSUM)

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